Can anyone help me?

Explain how contributing to an RRSP or RPP affects CPP, EI, and income tax deductions

Can anyone help me?
IGNORE the post above. Why someone would post a US answer to a question that clearly concerns CANADA, I've never understood.





Your RRSP contributions are fully tax deductible up to your RRSP limit for the year, which is (basically) 18% of your previous year's earned income, ( up to a limt of $20,000 this year I believe) plus any past contributions not taken. Anything you contribute to the RRSP effectively becomes tax free in the year of contribution.





Contributions can be direct to the RRSP from your paycheque, in which case no tax is deducted on them at source, or paid from your after tax cash later in the year (or during the first 60 days of the following year), in which case they will generate a tax refund.





RRSP contributions do not affect CPP or EI deductions.





RPP contributions are similar, although with some slightly different rules.
Reply:careful when making tax deductions on your tax returns, the government (IRS) might think you're trying to scam them.